Seoul Metropolitan Government to Invest 38.1 Billion Won in Four Innovative Technologies of AI and Robots

The Seoul Metropolitan Government announced on the 4th that it will invest 38.1 billion won this year in the "Seoul-type R&D (R&D) Support Project" that supports technological commercialization of companies in promising industries in the future.

This year's Seoul-type R&D will focus on ▲ supporting technology commercialization in the four core industries of Seoul: artificial intelligence, robots, biomedical, fintech, and blockchain. ▲ attracting investment in connection with private investors and large and medium-sized companies and joint commercialization ▲ expanding technology demonstration space to the private sector.

The city will invest 15 billion won in Yangjae Artificial Intelligence (AI), Suseo Robot, Hongneung Bio and Medical, and Yeouido and Mapo Fintech and Blockchain Clusters. In particular, starting this year, "care robot" will be presented as a designated task, and one-stop support will be provided from the technology development stage to demonstration and introduction.

If the private sector invests in companies with growth potential, the Seoul-style private investment-linked technology commercialization, which the city supports by matching R&D funds, will provide 4.9 billion won by easing the support requirements.

It will invest 1.2 billion won in "scale-up technology commercialization," which provides opportunities for small and medium-sized companies, ventures, and early start-ups to quickly improve their technology through open innovation.

It will also push for the "test bed (test bed) Seoul" project, which demonstrates it in an environment similar to the environment in which it is used before commercialization in the market and improves the technology precisely, at a scale of 9.5 billion won.

In addition, the city greatly simplified the project support process, reducing the number of documents that had to be submitted when applying for the project from eight to two, and allowing documents that had to be submitted in printed form to be entered into the computer system if possible.

In addition, existing participating companies had to invest 10% of the city's subsidies in cash, but from this year, only 10% of private contributions (institutional R&D expenses) were required to be invested in cash.

For more information and announcements on each project, visit the website of the Seoul Economic Promotion Agency (www.sba.seoul.kr ) and the Seoul R&D Support Center (seoul.rnbd.kr ). The "Seoul-style R&D integrated briefing session" will take place on May 12.

Date: 2023-04-04

Reporter: 서화목